WeWork data shows growth still doubling

WeWork data shows growth still doubling

NEW YORK (Reuters) - WeWork owner The We Company disclosed data on Friday that showed expansion of its office-sharing business was almost doubling in size from a large pipeline of leases even as the money-losing company plans to slash costs and reduce its headcount. WeWork divulged a presentation it gave prospective creditors in October about two weeks before SoftBank agreed to a $9.5 billion (£7.44 billion) bailout to keep the company afloat before cash on hand was expected to run out some time in November.

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